FTSE 100 looks to extend Wall Street momentum as US markets close
The FTSE 100 is looking to build on Wall Street's rally, although weaker UK services PMI data and the US market holiday may keep volumes subdued.
Chief Market Analyst
FTSE 100 looks to extend Wall Street momentum
The FTSE 100 was indicated to open around 10,690 on Friday, extending part of the positive momentum generated by Wall Street's strong rally. Some of that bullish sentiment has carried into UK equities, helping to support the benchmark index at the start of the session.
With US equity markets closed for the Independence Day holiday on Friday, 3 July 2026, European data and domestic UK drivers may carry more influence over market direction than usual.
Services PMI adds a note of caution
Attention is centred on the latest UK services PMI data, which has become the key macroeconomic release for European markets today. The weaker services reading adds a note of caution to the otherwise supportive market tone, particularly as investors assess whether the UK economy can maintain enough momentum to support further gains.
That leaves the FTSE 100 needing to build more of its own momentum through the session. Investors will be watching closely to see whether the index can continue its gradual move towards the previous record-high zone around 10,900 to 10,950. A supportive macro backdrop could help drive another leg higher, although trading volumes may remain subdued because of the US market closure.
FTSE 100 starts around 10,490 as investors await UK PMI data
The FTSE 100 started the second half around 10,490 points as investors watched UK PMI data, Associated British Foods, Topps Tiles and consumer demand signals after Nike's cautious update.
